Kevin Duffy on CNBC and Jim Grant

All Fed critics have been excommunicated from CNBC with the notable exception of Jim Grant. His survival is a neon sign of robustness, wisdom and, yes, courage.

~ Kevin Duffy, The Coffee Can Portfolio, November 2, 2020, p. 5

Warren Buffett on the key to investing

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.

 ~ Warren Buffett

Nassim Taleb on error's relationship to fragility and robustness

For the robust, an error is information; for the fragile, an error is an error.

~ Nassim Taleb, The Bed of Procrustes, p. 72

Nassim Taleb on the fragility of politicians

Robust is when you care more about the few who like your work than the multitude who dislike it (artists); fragile when you care more about the few who dislike your work than the multitude who like it (politicians).

~ Nassim Taleb, The Bed of Procrustes, p. 71